By Our Correspondent
BHUBANESWAR: The Jindal Steel and Power (JSP) Chairman and Eminent Industrialist Mr Naveen Jindal lauded the Interim Union Budget for 2024-2025 presented by Finance and Corporate Affairs Minister Smt Nirmala Sitharaman in Parliament on Thursday.
In an X post, the JSP Chairman said, the Union Budget has proposed several forward-looking initiatives that align with our national goals and are likely to drive economic growth, upliftment of the people, and support key sectors such as Infrastructure, Railways, and RenewableEnergy.
‘The new solar power schemes are expected to encourage households to adopt rooftop solar panels and generate Green Energy. The addition of new rail corridors for energy, cement, and minerals is likely to enhance connectivity and boost the Indian Economy. This budget aligns with our long-term #vision for a prosperous and thriving India,” the JSP Chairman, who also a former 2 times Lok Sabha MP, added.
The Finance and Corporate Affairs Minister Smt Nirmala Sitharaman, while presenting the Interim Union Budget for 2024-2025 in Parliament today announced that the capital expenditure outlay for the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be 3.4 per cent of the GDP.
She said, this is in the wake of building on the massive tripling of the capital expenditure outlay in the past 4 years resulting in huge multiplier impact on economic growth and employment creation.
As per the First Advance Estimates of National Income of FY 2023-24, presented along with the Finance Minister’s speech, India’s Real GDP is projected to grow at 7.3 per cent. This is also in line with the upward revision in growth projections for FY2023-24 by the RBI (in its December 2023 Monetary Policy Committee meeting) from 6.5 per cent to 7 per cent, prompted by strong growth in Q2 of FY2023-24.
